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bell rings] now we're down to 135. david: apple is something we'll talk in just a moment about big-time. meantime the market is down today. it has been worse. it is down 137 points. at one point it was down 180 but it has recovered. it has been up and down, sort of like the rumors about the situation in boston. we hear one thing, we hear another, it is up and it is down. that is pretty much what happened to the market across the board. what is most concern what is happening with nasdaq and a lot of that concern is focusing on what's happening with apple. apple going below the $400 level at one point. it is trading just above and below the $400 as we close, lori. lori: that's right. flight it quality. interest rates lower. stock market lower. oil lower. as the bells ring we'll zero in on earnings reports. we have two big earnings movers today. bank of america falling after posting smaller than expected increase in quarterly problem. this has revenue in most of its businesses declined. the company said it made more home loans and investment banking fees increased. >>> you are shares
. >> big reversal. big reversal on apple certainly. the much anticipated earnings report expected tomorrow. after the break we're going to find out exactly what to expect from apple. plus, we'll debate why the stock is having such a tough time lately dropping below 400 just last week. >>> then the faa warning about long airport delays because of government budget cuts. but in addition to grounding your travel plans, the cuts could also prevent your portfolio from taking flight which we will look at coming up. >>> don't miss my exclusive interview coming up with johnson & johnson ceo alex gorsky. that stock hitting an all-time high today. how he plans to push it even higher. that and a lot more coming up on the "closing bell," most important hour of the trading day right now. we went out and asked people a simple question: how old is the oldest person you've known? we gave people a sticker and had them show us. we learned a lot of us have known someone who's lived well into their 90s. and that's a great thing. but even though we're living longer, one thing that hasn't changed: the official
-box. computer hardware and apple that is a name that everybody is familiar with with below and hit another low trading as low as 393. i have to be crossing it out because i have to look at it going lower and lower. trying to buy on the way up is what charles is trying to do rather on the way down. dagen: a week of news and we're not just talking about the market's. president obama in boston this hour attending the interfaith service for the victims of the attack. this is the investigation and those behind the bombing continues and the devastating news does not and there an explosion at a fertilizer plant wreaking havoc on the town of west texas. many are still missing and several said. connell: also the market's with nicole but first let's go to rich edson as the president is in boston. what about the bombings? >> what we look not right now from our security team that the fbi is considering whether to release video and pictures of what they believe could possibly believe one or two suspects. there is video of at least one of the devices being placed that is an internal process as to whether or
the show is that one, apple. the tech giant expected to post earnings of $10.01 per share. folks, that would be a 19% drop year over year, the first expected drop in more than a decade. now, revenue is seen rising 8% to 42.3 billion. he here as always is going to be iphone sales. the main driver of apple revenue, we're going to speak with analysts all morning to get their perspective on the name. but what is your take, america? log in to facebook and vote in our arm chair analyst poll. will apple tonight meet, beat or miss estimates? as for the economy, here is today's calendar. >> how is the crowd sourcing experiment gone so far? i haven't looked at the results. >> the results for coming. >>? >> i can't even log in to the borrowing page. >> they've gotten some decent numbers that have come this. i think there are 1500 or 1700 -- >> but are they better -- >> they're good at it, but i think we have made the mistake of picking from predictable companies. that's why we started picking some trickier companies like apple. that's the one that's up in the air. nobody knows exactly what'
for the company. is it too late to buy the stock. >> we're counting down to apple's earnings report and that will be after the close. the shares over the $400 mark. one way or the other. >> luxury not dead, at least not according to coach and we'll dig deeper into those numbers. >> u.s. airways and delta beating those numbers. >> not quite as sanguine. we'll take a look at the airline sector and talk about travel turbulence a bit, as well. >> definitely not comericcal. >> for the first time since september 2011. the video streaming service posted quarterly earnings of 31 cents and well above estimates and said it added 2 million streaming subscribers in the u.s. helped by "house of cards." people, jim, this morning are saying netflix became hbo faster than hbo could become netflix. >> 30 million. internationally you got more than 30 million. i don't think people realize how non-promotional will this conference call was. it really was. they said, listen, the reason why we did well is -- no, it's a combination of things. we didn't lose people after we made the change. people do like "
>> apple, the tech giant everyone loves to bite, squeeze, and chew on, is announcing earnings. the stock hammered in recent week z as everyone tries to time it. it's now the right time to buy finally. dr. doom and gloom himself calls for a market crash, a correction for ages as he's called out by the blogs as missing the target. he now makes a new bold prediction. what is it, and is he finally right? we got tough questions for mark bobber. and social security -- it's playoff time. emotionally charged celtics team returns tonight down one game, a fox business exclusive with the celtics ceo and co-owner on the booming business of basketball, and how boston's team and city are doing. "countdown to the closing bell" starts right now. ♪ good afternoon, everybody, i'm liz claman, breaking news. the gains in the markets you see below us on the screen belie what happened just after 1 p.m. eastern time. that's when the associated press' twitter account, close to 2 million followers, was hacked and an erroneous tweet sent out, bogus, claiming there was two explosions at the white hous
stock can rally. even slightly or convincingly. which is what happened with apple tonight. and what's been happening with this market for most of 2013. with today being still one more day that the market put on a terrific better than expected show, the dow rallying 152 points, s&p rose 0.14%, nasdaq gaining 11%. >> tuesday is up day around here, 15. straight. i can give you the basics on this apple. apple earned $10.09 versus the $10 people expected. the dividend has been boosted nicely, 15% or that the company boosted the buyback from $10 billion to $60 billion and expect the buyback to be complete by next year. apple tends to use its balance sheet to borrow, help by the stock. it seems silly with $144 billion in cash but remember, a lot of it is overseas, so frankly, as far as i'm concerned, it's good. but here's what really matters. just as apple was totally loved at the top, it was scored at the bottom. and that's pretty much a microcosm of so many other stocks, whether it be yum, k can fc, which respected reported a good number tonight after merrill lynch cut the stock to a sel
reaction and also talk about apple which releases its earnings tomorrow. that is the other enormous tech and earnings story, so we want to put them together. let's bring in jonathan hoenig, portfolio manager, fox news contributor and our very own charles payne. charles, let me start with you. i mean, these guys are traditional sandbaggers. they love to come in and sort of blow away earnings. >> yeah. melissa: they did that, although on revenue they just met which says a lot about the ason. >> i know. but this is absolutely remarkable. melissa: you're dazzled. >> i'm dazzled by the reaction. it's absolutely phenomenal. and, i mean, it's up, what, 30% now i think in the of after market? melissa: yeah. no, it's azy. trading at 216, it had closed at 174, so exploding. >> it really is. melissa: we're talking about netflix. >> oh, okay. [laughter] the point is it's one of these names where, you know, there's a 4% short position, so the audience should know that. people bet against it, so a pretty large bet that they weren't going to make it. stock's already made a big move from lows earlier, a
. melissa: nicole, thanks. lori: bmo cap ha capital lowered its 2013 price target for apple twice in the last week. let chess check in with a senior research analyst at abm markets. to keep an eye what iphones consumers are buying. keith, welcome to you. the crux of your latest forecast, your latest price target downgrade if you will is really based on verizon earnings which showed weaker than expected only 50%. the iphone sales were of the iphone 5, high-end, best margins, if you will, very attractive margins so you say expect disappointment today? >> we think so. we have as you mentioned two cuts. the first, actually had a chance to go out and visit with a number of carriers around the world, both face-to-face and over the phone and that led me to the conclusion that apple was candidly losing share and we think losing share to samsung and no longer the top-notch phone out in the market. we think effectively competing with samsung. we think the market is moving away from apple. they're losing some share in the high end. in addition, we think there's a number of chinese phones or
you knew i would say apple this is under immense pressure. the stock is down more than $24 that is a loss for more than 5% we will talk more about that coming up. a lot of stories trending today standing by at the nymex and see meager and we have nicole petallides on the floor at new york stock exchange in a moment of first let's go to our traders on the floor of the new york stock exchange was so many multinational companies coming in with earnings and this seems to be changing the tide of the market to the down side. >> this is a downtrend to begin with with the consolidation we have been waiting for and we want to point* fingers whether china or earnings we have the ability to do that. the united states sought a bit of recovery yesterday because of the safe haven for the rest of the world and that has washed away and the bank of america earnings , until and the like facebook number a little bump to the housing side but if you are an individual investor at home these are the sell-off see one to have your shopping list out to be ready to buy. cheryl: by the names that you
concerns. shares of apple suppliers tumbled. >>> and voting on the next italian president gets under way in rome with berlusconi and bersani apparently backing the same candidate. rifts in the upper left could jeopardize the process. >>> and we're live in moscow amid rumors of division in the kremlin. we'll speak with the former president of the czech republic in the next 15 minutes. >>> welcome to "worldwide exchange" this morning. plenty going on in the program. we also want to draw your attention first and foremost to the continuing issues across the commodity complex, one where gold has gotten the lion's share of attention. but others, whether it's industrial metales and crude are participating today. a rebound shaping up, but not the case for copper, dr. copper down better than 1%, 1.2%, in fact. and that is spurring a sell-off in the shares of a lot of the minors. new crest among those heavily to the downside in some cases. fortescue down nearly 8%. rio and bhp have recovered a little bit as we move through the trading session. and it's not just the big names, two smaller names wer
'll look at whether another triple digit move on the dow today could play out. >>> apple dipped below $400 a share yesterday. closed above that. this morning verizon reporting strong activations for the iphone for the last quarter. will that help this stock that's been in free fall? >>> pepsi beating expectations this morning. jim has an interview with the ceo. >>> paypal under pressure this morning, facing increased competition from amazon and others. we'll break down numbers and talk exclusive to john donahoe, ebay's ceo coming up. >>> futures on the rise after yesterday's drop of 138 points in the dow which is now posted three consecutive days of triple digit moves, including the big sell-off, 266 on monday an tuesday's rebound. just two weeks ago the s&p came within two points of 1,600. leads us to sort of a broad discussion of where we are in corporate earnings. i see two-thirds have beaten on the top line. less than half beating -- actually less than half beating on revenue. two-thirds beating on earnings. >> carl, the market is so short-term oriented, we had a couple bad ones yester
for marisa meyer. >> no! >> also ahead an exclusive with the co-founder of cisco system, sandy learner. apple is about to test the bear market low. a lot more "squawk on the street" from post 9 when we return. [ engine revving ] ♪ [ male announcer ] every car we build must make adrenaline pump and pulses quicken. ♪ to help you not just to stay alive... but feel alive. the c-class is no exception. it's a mercedes-benz through and through. the 2013 c-class. starting at $35,350. departure. hertz gold plus rewards also offers ereturn-- our fastest way to return your car. just note your mileage and zap ! you're outta there ! we'll e-mail your receipt in a flash, too. it's just another way you'll be traveling at the speed of hertz. that's not much, you think. except it's 2% every year. go to e-trade and find out how much our advice and guidance costs. spoiler alert: it's low. it's guidance on your terms, not ours. e-trade. less for us. more for you. >> some popular google apps experiencing service disruptions this morning. the problems apparently center on three popular google apps, gmail, goog
for reaction at how the markets were able to bounce back. >> apple beat estimates today with sales of iphone and ipad leading the way. >> wall street then reacted favorably. apple stock back over $400 a share. abc 7 news david louie outside headquarters. >> apple stock fell 18% as it saw growth. however smrks people saying apple is facing a growing image problem. >> the ipad continues to be the product keeping apple going. ceo tim cook told reporters he's very frustrated by the decline in his stock price. the secrecy could be one liability. speculation is rampant about what it's going to create next, an update or a game change nug product. because they don't want to buy something soon to be upgraded. it could create negative speculation. >> there is a lot of speculation about have they lost their edge? not able to bring new products to market anymore? >> consumers able to name other companies as innovateors. >> samsung right now, or google. >> google made a splash with its experimental glasses. and with self driving car. >> apple hardware is amazing but have you seen the google tab blet
, apple earnings out today. why traders and investors are bracing for the worst. plus, why facebook could soon forever change the lives of people living in a town in iowa. first business starts now. you're watching first business: financial news, analysis, and today's investment ideas. good morning. it's tuesday, april 23rd. i'm angela miles. in today's first look: the apple of the market's eye: the tech giant reports earnings after the close. the stock rallied monday along with the broader market. gold cruised $30 higher in the session, while oil had a smooth ride up 80 cents. netflix reels in viewers & investors: the online film company posted better-than- expected earnings, added more than 2 million subscribers, and shares traded up to $207 following the news after the close. netflix stock is up 88% since january 1st. and more information is likely to emerge today after canadian police say they arrested two men monday for allegedly attempting to derail a passenger train traveling between new york and canada. tony harris of performance trust investment advisors joins us now with a look
. >>> earnings come in pretty mixed. michelin and kpm disappointing. and a bruised apple gets set to report much anticipated second quarter results later today. analysts are expecting profits to shrink for the first time in a decade. >>> plus, more details emerging about the suspect in the boston bombing as the u.s. charges him with federal crimes that could carry the death penalty. >> announcer: you're watching "worldwide exchange," bringing you business news from around the globe. >> welcome to "worldwide exchange." ross westgate will rejoin us in a couple of days' time. in the meantime, plenty to get through on the program today starting off with the flash pmi data for the eurozone. both the manufacturing and service sectors being closely watched for just how much momentum if any was carrying into the second quarter. you can see the euro/dollar down 0.6%. let's get more from chris williamson. chris, welcome. it looks as though the tone generally speaking here for april across manufacturing and services is pretty weak. >> yes. and one of the big worries is that germany has been back into contr
, michelle. >> apple going from bad to worse, bill. it could close before $400 today. it would have to do pretty big intraday turnaround in the last hour, if it was going to do that. we are going -- if it were going to reverse that. we'll keep an eye on that and have reports throughout this hour just on exactly where apple closes. >> but in the meantime, what a volatile week we have had. let's just remind everybody of what has happened, just this week. 265-point decline on monday, with all the events that were occurring in boston that day. a comeback day on tuesday, when the market gained 150 points. yesterday, a herky-jerky day with all kinds of back and forth news coming out of boston, do they have a suspect or not. whatever. that day, we finished down 138 points. and now today, the economic data seems to be seeping into the story as well with the jobless claims a little higher than anticipated. we're down 109 points and a decline of 2.4% for the week so far. bob pisani, how are things shaping up right now? >> a very delicate moment. two days this week, 90% of the volume to the downside
in washington. >> home sales slipping, and if he does not produce a big number tomorrow, apple's ceo going, time for our biz little bit or biz hit list. you hurt my feelings, todd. i did? when visa signature asked everybody what upgraded expeences really mattered... you suggested luxury car service instd of "strength training with patrick willis." come on todd! flap them chicken wings. [ grunts ] well, i travel a lot and umm... [ male announcer ] at visa signature, every upgradedxperience comes from listening to our cardholders. visa signure. your idea of what a card should be. neil: homebuyers, shaken to the core. in biz blitz we start with home sales not getting it done. sales of existing ones dropping, .06 of a percent. al, what do you make of that? we were given that they were at least clawing back. >> the economy is never as good as people say it is. the housing market is never as good as people say it is, think of this, we have interests below 4%, f most to go out get a mortgage, housing market should be streaming back we're seeing a large percentage of sales dominated by visitors, there i
not produce a big number tomorrow, apple's ceo going, time for our biz little bit or biz hit list. thank you orville and wilbur... ...amelia... neil and buzz: for teaching us that you can't create the future... by clinging to the past. and with that: you're history. instead of looking behind... delta is looking beyond. 80 thousand of us investing billions... in everything from the best experiences below... to the finest comforts above. we're not simply suting history... we're making it. it's delicious. so now we've turned her toffee into a business. my goal was to take an idea and make it happen. i'm janet long and i formed my toffee company through legalzoom. never really thought i would make money doing what i love. [ robert ] we created legalzoom to help people start their business and launch their dreams. go to legalzoom.com today and make your business dream a reality. at legalzoom.com we put the law on your side. neil: homebuyers, shaken to the core. in biz blitz we start with home sales not getting it done. sales of existing ones dropping, .06 of a percent. al, what do you make of tha
. the other big story, of course, behind this rally in stocks, is apple's earnings. we are awaiting its on deck, after the close tonight. could the numbers be the catalyst for returning things around for this beaten down stock, from coming down from below 700 to below 400. full team coverage on the apple results. >> one stock making a comeback today, following better than expected earnings, coach. chairman and ceo lew frankfort will be here to talk about that coming up in a few minutes. >> and a nice recovery today, but this stock is really coming from a huge sell-off. take a look at this chart here. and that really explains what went on very clearly, just at about 1:00 p.m., 1:15 eastern time or so, the market plummets on that erroneous report when the ap twitter account was hacked and bounces and comes all the way back when it becomes clear that it was, in fact, erroneous and the account was hacked. take a look at the dow, now up 1245 points. what's behind this rally? bob pisani in the middle of the action. there's the nasdaq up 30 points with technology seeing the same chart pattern
at this point in time. back to you. dagen: thank you. connell: apple driven by profits of the iphone. they are said to report tonight after the bell. dagen: down 40% last fall. dagen: the president budget. take a look at how world currencies are doing against the greenback today. ♪ ♪ [ female announcer ] from meeting customer needs... to meeting patient needs... ♪ wireless is limitless. ♪ from finding the best way... ♪ to finding the best catch... ♪ wireless is limitless. [ male announcer ] a car that can actually see like a human, using stereoscopic cameras. ♪ and even stoitself if it h to. ♪ the technology may be hard to imagine. but why you would want it... is not. the 2014 e-class. it doesn't just see the future. it is the future. ♪ >> it is 23 minutes past the hour. israel is joining written and france and accusing syrian resident of using chemical weapons last month. based on visual evidence, he believes the legal nerve agent was probably used. rebels. a car bomb exploded outside the french embassy in tripoli this morning. two french guards were injured i
and start with commodities. gold, looks like it found a floor, no? >> at least temporarily. just like apple. it its funny, two, apple and gold have nothing to do with each other yet those two stocks, that stock and that commodity have gone out and crushed so many people out there over the last year. so it is nice to see both of those catching a little bit. maybe rescue retail trader a little bit. if you look at the nasdaq 100, which was the big leader today, one of the things watching google and apple have been conspiring to make the mdx do nothing last six months. >> i don't think it is a real conspiracy. >> no, no. but those two stocks are basically been forcing the nasdaq 100, really tight range. we get two of those moving same direction at the same time, that underperformance of the mdx could cause that thing to skyrocket. so i think that's a trade that may be out there. how does ndx trade versus the dow and dow which was the big leader and s&ps, was another big leader. that is trade i will really be watching. tomorrow's results could set the tone for the rest of the quarter on that tra
, the ceo cites signs of stability. >>> apple, just a day after it's set to report results. reports swirling about a possible iphone 5s delay if production. >>> did your flight get delayed this weekend? maybe you should blame it on the furloughs. headlines from the sequester continuing to bite business travellers and airlines alike. >> the markets coming off their worst week in five months and it wasn't that long ago we were on the verge of hitting s&p 1600. what do investors expect going forward? tobias levkovich joans us at post 9. welcome. always good to see you. >> good to be here. >> coming on a day when you have "barron's" over theec wooend and their poll and we laughed about it a little bit. dow 16,000 by the middle of next year. they're talking s&p 1682 and people want to read that this morning as a danger sign. >> i would be a little bit careful. if you look at how they've been with the market they've been somewhat cautious and very u.s. oriented. even cyclicals like retailers will be u.s. oriented and not the global cyclicals. i don't think people have bought into this. we see cash
are changing the way we defend our country. dagen: apple sending back millions of iphones because they were not to apples liking. take a look at how the stock is trading today. up almost 1.5% today. ♪ ♪ for about 15 minutes past the hour. connell: trip is here to make us a little bit of money. go ahead, charles. charles: checkpoint software. a little favorite of mine. they do security for companies. what i like is they have gotten into this whole data scenario. we talk about the cloud, but no one ever talks about securing the cloud i think that will be a great area. i just think the stock is so oversold. some technicians would argue it is a reverse head and shoulder. this month, there will be a whole bunch of investor cards is. i love the risk reward on checkpoint right now. pretty good room to the upside. connell: you have more on the time of year. charles: in the next hour, we will talk about the spring swoon. connell: 16 minutes past the hour. very good. thank you. anything to add? let's go to nicole at the stock exchange. looking at apple. nicole: everyone is talking about apple. it
through san francisco shows construction out here with more details in a little bit. >> apple may no longer be number one in the eyes of investors. what they will look if when they release a key report today. >> concert goers get more than they bargain god and what caused a best light show ever for a music festival. first, here is the tech bytes. >> facebook is off to a slow start the first week the droid app was down loaded 500,000 times compared to droid app download add million times in just 24 hours. 3-d is coming to google earth when you can navigate the globe using hand gestures and a motion controller that goes on sallie mae -- on sallie mae 13. and xbox is teaming up with pizza up to allow you to pick topping and hey! did you know that honey nut cheerios has oats that can help lower cholesterol? and it tastes good? sure does! ♪ wow. [ buzz ] delicious, right? yeah. it's the honey, it makes it taste so... ♪ well, would you look at the time... what's the rush? bee happy. bee healthy. with clusters of flakes and o's. oh, ho ho... it's the honey sweetness. i...i mean, you.
. selling across the board, particularly in economic sensitive areas like energy and technology, and apple, for example, below $400, and we'll is more on that throughout the show. the one thing to note is the volume is not as heavy like we saw on monday. there's less volume and less conviction to the selling; however, the selling is happening across the board. there's economically sensitive areas like financials bringing me to bank of america. reporting their quarterly numbers, look at bank of america. this weighing on the dow jones industrials, but more importantly, bank of america, itself, down six and a quarter percent. financials down with it, and missed estimates, the big story, despite profits qaw drupe -- quadrupled for the quarter. sector to sector, defense sectors doing better, utilities, health care, and telecom. back to you. melissa: thanks so much. lori: fbi confirms preliminary tests on a letter sent to president obama tested positive for ricin. rich edson has the latest. rich, when you hear news like this coming after the bombings in boston, you understand why the fear trade
are pricing for a chinese slowdown. >>> and apple stocks continue to tumble ahead of the earnings report tomorrow. we'll get you the latest action from new york as investors brace for more volatility. >> george napolitano is expected to tell lawmakers today how he intends to end the political stalemate and form a new government. this after the 87-year-old was re-elected for an unprecedented second term on saturday after politicians failed to agree on another candidate. he is expected to form a bipartisan cabinet. he's thought not to favor or relish the idea of fresh elections. still, his re-election has been met with anger by some including beppe grillo blasting it as a traditional party trying to hang on to power. >> they have chosen, again, a president instead who is able to guarantee the judicial power of this country in order to save berlusconi's [ bleep ] and save the left [ bleep ] with regard to the monte depasco scandal. >> politicians have been urged to finally form a government or risk a long recession in the country. georgeo said italy is not belgium and needs a government. go
a share record territory for netflix. apple reports its earnings after the closing bell today. it's expected to show weakening from a year ago. poor iphone sales compared to ar earlier leading to what's expected to be about a 14% drop in profits. a lot of analysts ha downgraded the stock. it's rallied over the past couple of days just peeking back above $400. >>> google executive chairman eric schmidt told bbc radio this morning that google glasses will be out a year from now and admits in a it's going to require some new social he had get because there's technology in google glass that allows people to take pictures by winking and doing other things like that. he says obviously, there are situations where it won't be appropriate to record with google glass. a lot of privacy concerns with that. stocks off to a good start because of corporate earnings. dow up by 108. nasdaq up 25. s&p up 11. google shares up just slightly. frank and michelle, back to you. >> looking good. thank you, kcbs radio's financial reporter jason brooks. >>> a woman goa se when she tobacco a bathroom break a
way to say this, companies unfortunately are cutting their way to earnings success. >> apple reports after the close tomorrow. it's expected apple to report a nearly 8el% jump in revenue. that would be the weakest for the company in years. shares below 400 bucks for the first time since december 2011 on friday. it has shed nearly 300 billion in market value since peaking at just above 705 a share in september. and it is, if you're asked to a cocktail party what the biggest company in the world is, it's not apple any wore. >> it changed last week spp. >> it switched to exxon mobil. in fact, if you look at the ochgzs market, options pricing on friday suggesting a post earnings move of about 7.5% by april 26th. which is this friday. the key, of course, is 7.5% which way? >> that is very true. >> that's a 15-point swing. >> let's get you through some of the other issues this morning. boeing is beginning to fix grounded dream liners, installing reinforced lithium ion batteries. they're finally here. the company started today with five jets owned by nippon airways. it should make the first
. it is somewhat reminiscent to what happened to apple. in the paper market, you have a dramatic selloff. in the physical market, the demand is very, very strong. connell: let's follow up on that. let's talk about apple. the big game for the dollar versus the euro. is that part of the case you make for gold? >> i think part of the reason is for safety. in times like this, i think now is a fantastic entry point. it is certainly better than two weeks ago. it is uncorrelated. that last forever. hopefully it will bring the price back up. connell: she is trying to hold back. dagen: it does not have the magical properties. i do want to ask you about storage capacity. are we maxed out in terms of the ability to store gold? >> we are not maxed out. individual investors, i think they are hitting struggles. you are saying that on a retail level. on an institution level, you are not saying that at all. connell: come back and hang out with us. i hope you like those. we like him as a guest. dagen: connell is very needed. [ laughter ] connell: the reopening of the privacy debate. privacy versus safety
. is apple losing its shine? the tech bellwether dipped below $400 a share this week. seven months after hitting a record high of above $700 a share. concerns that product sales will not be keeping up with a possible glut of inventory there. exxon mobile surpassed apple as the most valuable company. sea world made a splash. the company began trading friday. with an ipo of, priced at $27 a share. the deal raised some $700 million. >>> austerity persisting in britain and europe despite forecasts of downgrade growth in the uk and recession in single currency euro zone. from the spring meetings of the imf and world bang. -- imf and world bank. part of the conversation this week. >> it has vastly different social security systems, health care systems, pension systems. if europe wants to move to common funding of the systems, a fiscal union, then they need to harmonize the systems way before they can move to a fiscal union. if you are talking about a common fiscal policy orifice cal u -- or fiscal union, they are way off. >> what is your opinion of how the banks look, will they sell assets, an
of the super bowl of quarterly reports. apple releasing numbers after the bell today, the stock, which has taken a beating recently now traiting above $400. not by much, but they'll take it. investors may be coming back, but what do consumers this i? that story next when pow per continues. [ female announcer ] it's time for the annual shareholders meeting. ♪ there'll be the usual presentations on research. and development. some new members of the team will be introduced. the chairman emeritus will distribute his usual wisdom. and you? well, you're the chief life officer. you just need the right professional to help you take charge. ♪ >>> all right. the market's kind of fallen apart. it's whipsawed all the way back up. so take a look at the right-hand side. we saw the dow jones industrial average go from a garch of 135 points to negative 12 in under a minute and a half. this is all sorts of rumors, and we'll follow those up. the market has bounced way back up again, but the volume tim in this market just in the last five minutes was unbelievable. they were running around down here, tryi
with me. >>> other big story now is stronger than expected corporate earnings. good story. and apple beat, strong profit in big industrial companies. gave us a big rally today. remember, please, profits are the mother's milk of stocks. all that's up next. and please don't forget my other dictum. free market capitalism is the best path to prosperity. we'll be right back after this. >>> it's hard to hit home runs all of the time. is that part apple's problem? >> i don't know if it's a problem, larry. tim cook did say we've got some cool new stuff coming in the fall and in 2014. that might have been what triggered an after hours selloff. some people interpreted that to mean we don't have new stuff coming in the summer. but will he he also talked about new product categories the team is working on. yes, apple has been coming out with a lot of new stuff over the past couple years, but historically, they have taken longer between some major launches. between the ipod and the iphone, there was about six years where apple was mostly doing software iterations. >> john fort, thank you very much, we
to keep an eye on apple shares today. it dropped below $400 yesterday or the first time in 16 months. the decline came after a chip suppliers forecast led them to start worrying about weakening demand for the iphone and ipad. joining us is gene munster. gene, by the way, also covers google and google will be reporting after the bell tonight. gene, why don't we start with apple. this has been an incredible run up and then an incredible drop. below $400. is this somewhere you saw the stock going? >> no way. this is -- we thought there was a floor at 450, so this is a lot lower than we thought it was going to go. >> and at this point, now that it has reached 400 at least in the intra day trade, does that worry you that there is still more room to decline or do you think at this point it's stabilized? >> we think there's an opportunity here. the street numbers still need to get reset. we're 10% below the street for the june quarter. i think once these estimates get reset, that's the point where investors are going to start to get interesting. the southside still hasn't taken those nebs d
of all with apple. the worst week in two and a half years, down 9% last week and nicole, any sign of a bounce? >> right, we're seeing it up 1/2 a percent for apple. i've read so much and 14 analyst downgrade apple some way, shape or form the last couple of months though there were a couple who were positive this morning and reading about forbes, throwing out the idea whether or not tim cook may be replaced, but there are so many folks who love it, but everybody knows it was adds 700 stock back in september and it's still below 400. stuart: you can't call it a bounce, a gain of a buck, that's not a bounce at all, but tell me about ibm. we would have had a triple digit rally for the dow, but any bounce. nicole: we're watching ibm, higher this morning, a name on friday dropped 8 1/4%. the biggest drop ibm has seen in three years, and the worry is about the growth prospects for the company for 2013, as you noted, it shaved off over 100 points on the dow on friday. stuart: i don't want to grind my ax, but i have a task for you. can you tell me why in the next update, were microsoft ope
. >> hi, richard. apple reports earnings today. with the stock dropping below $400 a share after peaking above 700 in september, you know it's the talk of wall street. apple still selling a record number of iphones and ipads, but growth is dropping amid competition. the fed gets seven big banks to rein in bonuses for executives who meet or exceed performance targets. "the wall street journal" reports regulars have been concerned since the financial crisis about ties between high pay and the amount of risk that banks are taking. >>> well, now you never have to get off the couch. pizza hut and microsoft are launching a new app that lets people order food via xbox live. richard, back to you. >> now i'm kind of hungry. thanks, courtney. >>> other action on the street. netflix shares skyrocketing 24% in after-hours trading. and that's thanks in part to new streaming original content. the company announced a new family plan as well to let four users stream at once for just $11.99 a month. senators voted overwhelmingly in favor of debating legislation to help states force online retailers to co
to the big apple? >> it's my first time here. we went to see "wicked" last night. >> stephen: are you going to score any weed? >> i don't know about that? >> >> stephen: just make sure you do it legally by asking a cop where to smoke pot. ( laughter ). i doped up quite an appetite. mmm-mmm-mmm. yes, my good man, hello, where are you from? >> i'm from egypt. >> stephen: you're from egypt. >> do you want some ketchup? >> >> stephen: no, ketchup is for puzzies. got it, got it, right. hi, i'm steve c. i love ice cream. and i love giant heads and tiny bodies. ( laughter ) there was just one more item left on my times square bucket list. perhaps one of these young ladies could make my dreams come true. ♪ ♪ ( laughter ) i had never felt more alive. my day in the city was more than i had ever hoped for. ♪ start spreading the news i'm leaving today ♪ i want to be a part of it new york, new york ♪ these ba-da-bum something or other good day ♪ right to the very heart of it new york, new york. gloat ba-ba, with a bucket on my head. ♪ da-da just my face ♪ da-da red. ♪ i'm back at m
. >> let us talk about something that will happen tomorrow, apple earnings. apple is up. some people think the stock is beaten down as far as it will go right now. >> that is very interesting. we're waiting on netflix. netflix is a winner. apple crossed the $400 mark, 402 today. hard to call a bottom. people said double down. if you owned it at 600 you must love it at 390. liz: we can't count how many people said, oh, now is the bottom at apple. who knows if they're
in the technology space. and you see a company like apple once, you know, the darling of the tech sector. now it's, you know, kind of a bren company, so to speak. what is it, shook, that defines what makes a winner in the technology space versus an also ran? >> absolutely. going back to the apple story, i think the company's meteoric stock rise from its mid-peak to $700 i think reflected disruptive in cycle both in terms of price and unit so the company came in and dominated the tablet market, came in and was creator of snificant value in t smartphone segment. and i think the company has been able to right that cycle, but now, of course, it's on the other side of that mountain, so to speak. so over $200 billion of market cap has been removed. and so the company is looking forward, our best position, as you pointed out, in this undergoing transformation of the technology value chain, our position at the nexus or the intersection of -- in a consumer or cloud, the information, the mobility and social media, so we think the three companies that should benefit longer term are google, amazon and three
wireless broadband network. facebook is talking with apple about creating a version of its own software for the izone a week after the social media giant announced a deal with android. have a great day. through all the years that have passed. the failures. the successes. the people i've touched along the way. i can look back and be proud. knowing that with the help of my suntrust advisor, i didn't just live a life. i built a legacy. something worth passing along. and protecting. suntrust private wealth management. building and protecting legacies since 1892. >> the national park service is considering closing visitor facilities on the national mall earlier in the evening and it's looking into eliminating a late- night ranger hours as well. ranger stations and nearby restrooms right now are open until almost 11:30 until midnight. the park service is considering closing those facilities now it 10:00 tonight. the monuments themselves would stay open. spokesperson says the proposed cuts are not related to sequestration. on this, 55 degrees tuesday morning. >> ahead, we are continuing covera
of melissa's segments on our website, kpix.com/mornings. >>> a lot is riding on apple's earnings report that is expected tomorrow. they have had a tough couple of weeks. kcbs radio's financial reporter jason brooks reports. >> reporter: it seems like it's been a long time now since apple stock was above $700, back in september when they had a streak. it's been struggling and fell below $400 last week for the first time since december 2011. the company reports its fiscal 2nd quarter earnings after the closing bell tomorrow. it's expected to report an 18% drop in profits from a year earlier which would be the first year-over-year drop in profit since 2003. lots of worries that iphoneand ipad sales are much weaker as a lot of consumers hold off the next product refresh from apple and a lot will be riding on that. and for the stock tomorrow. the one good thing is with so many analyst downgrades, any good news from apple could turn it around tomorrow. ebay is trying to leverage its user base in a vote in congress. the company started sending emails to its 40 million usingers this weekend try
pepsi and verizon. some of the other big companies. one stock we are keeping an eye on is apple. and i just want to pull up the very latest quote on that. apple stock is down $8.5 a share. about 2%. it's now below 400 $400 a share. $394 is where that is. apple stock down 42% from all time high of $705 last september. one money manager says apple could fall into the 300s in the coming weeks. it is now at $394 right now. we'll keep an eye on apple stock. >>> oakland is proposing a budget for the next two fiscal years that calls for spending. the budget proposal also includes two more police academies. however, the city will still need to eliminate 80 positions. the deadline for a new budget is june 30th. the public will be able to weigh in before that deadline. >> time now 7:45. firefighters are investigating an overnight fire that gutted a house in san leandro. started on deal avenue and dowling boulevard. no one was living there. neighbors made sure people living nearby got away safely. >> everybody called from one house to the next. and couple people knocked on everybody's doors. we a
$200 a share. it will be a good tuesday morning if you own netflix stock. >>> apple reporting its results tomorrow afternoon. today apple won a court decision ruling that apple did not violate a patent owned by rival google when it made the iphone. a big deal for twitter today about big money. the san francisco company signing a multi year deal said to be worth hundreds of millions of dollars. today the senate voting to move a bill forward that if passed would require sales tax to be collected on certain internet purchases. >>> the first look at google glass. it's the latest way of taking internet with you. we will show you what it can do tonight at 6:45. it is in the hands and over the eyes of a few people in the bay area and it is already getting a lot of attention. >> looking forward to seeing that story. >>> in the south bay a scare for a lot of shoppers. there were voluntary evacuations at valley fair mall this morning after a construction crew hit a gas line. a contractor hit the service line around 8:00 this morning. the line was properly marked. the leak was stopped by abo
a look at some sectors we've seen here. technology, a tough day, apple's been down, finance has been down, because bank of america has been down. so it's not just the commodity story here as well, some disappointments on the bank earnings, energy, industrials, materials also on the weak side. commodity countries, and this is another way you can look at this, there's peru, brazil, canada, australia, south africa, these are all exchange-traded funds you can buy, all down about 2% on the day. finally, guys, the thing that's worrying me, we've been in an up trend all year. now for two days, monday and today, we have had big down days with big volume, 90% of the volume to the downside, those are very big days, when you see that kind of thing happen, and some people are now starting to wonder whether we have a trend reversal on. instead of an up trend in the market, in fact, that's not happening anymore. that's the big debate going on down here. >> when you look at that chart you just showed, bob, it certainly raises the question. thank you. >> you bet. >>> about 12 minutes before the closing b
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